Mortgage Repayment Charge

traddots_2

I hope to be able to repay my mortgage shortly. I ask for a redemption figure and it was slightly higher than I thought it should be. When I commented on this I was told the figure included a redemption charge of £95. I checked my mortgage offer and the accompanying letter and there is no mention of any such charge. I was told by a confused person that it was on the letter and he could arrange for a copy for me. I said he was the one who needed a copy. I had mine and no charge was referred to. In fact the entire letter held no information on completion of the term, early repayment, etc. Can they do this if I was not informed, and if so is £95 acceptable?

Let_Us_See

£95.00 is very acceptable. However, if not confirmed in mortgage offer you could contest.

StuC75

what about the annual statement \ list of fees? Often that will be buried away in the mortgage T&C's..

How long have you had the mortgage? have they been holding the deeds for all these years?

traddots_2

I have had the mortgage since 2001 and the land is registered so deeds don't come into it. It was an interst only loan which I have managed to overpay to reduce the capital. I am a single parent on a low income so my finances are always critical.

holly_hobby

This will be the MEAF (mge exit admin fee), it'll be in the t&cs.

Hope this helps

Holly